Weekly Cattle Comments - 24.06.22

It was another steady week of offerings through AuctionsPlus commercial cattle sales this week, with the 19,076 head largely in line with the average since the start of May, at 19,400 head. Buyer hesitation was one of the features of the commercial cattle sales this week, as clearance rates were again patchy at the immediate close of the auction and not reflective of the pre-auction catalogue views and enquiries. The heavy end of the young heifer market recorded the largest gains this week, while 330-400kg steers dropped, as the PTIC heifer supply and clearance rates contracted.

Adding to the market noise this week was the looming end to the 2021-22 financial year – with producers always attuned to taxation and income consideration in late June. For the southern markets, wet, cold, and gloomy continues to hinder producers, with some concerns being heard regarding pasture supplies into late winter, following a frustrating finish to autumn.

Table 1: AuctionsPlus National Weekly Cattle Prices
Table 2: AuctionsPlus Queensland Weekly Cattle Prices
Table 3: AuctionsPlus Angus Weekly Cattle Prices

For the young steer categories, it was the lighter end of the category that kicked higher this week, as demand through the heavier lines declined. 330-400kg steers dropped $180 on last week, to average $2,013/head – with a 52% clearance rate for the 2,206 head offered. Interestingly, the lighter category of 280-330kg steers averaged higher, rising $28 on last week, to $2,040/head. From Deepwater, NSW, a line of 37 Hereford steers aged 9-10-months old and weighing 322kg lwt returned $1,740/head – headed to buyer in Burra, SA.

Interest for 200-280kg steers was again robust, with the highest clearance rate among the steer categories for the week, at 62% for the 2,718 head offered. Prices for the week averaged $6 higher, averaging $1,745/head, or 695c/kg lwt. From Walcha, NSW, a line of 34 Angus steers aged 9-10-months-old and weighing 233.5kg lwt returned $1,800/head, or 770.88c/kg lwt. From the north, a line of 107 Droughtmaster/Droughtmaster cross steers, out of Adavale, Western Queensland, aged 5-11-months-old and weighing 262.6kg lwt returned $1,750/head – reaching $180 over reserve.

Feeder steers continued to be in tight supply, with the 387 offered averaging $2,406/head – down $256 on last week. From Dubbo, NSW, 10 Santa Gertrudis steers aged 18-19-months-old and weighing 404.6 kg lwt returned $2,080/head – destined for Colbinabbin, Victoria.

In contrast to the young steer categories, it was the heavier end of the young heifer market that kicked higher this week, with gains of between $134 - $311/head through the three heaviest segments. With 1,578 head offered, 200-280kg heifers slipped $71 on last week, to average $1,546/head. From Corryong, Victoria, a line of 88 Angus heifers aged 8-10-months-old and weighing 224.8kg lwt returned $1,730/head to a buyer from Tooma, NSW - $330 over reserve.

280-330kg heifers averaged $134 higher this week, at $2,037/head, with a 51% clearance rate for the 1,261 head offered. From Miles, Queensland, a line of 46 Simmental/Simmental cross heifers aged 12-18-months-old and weighing 298.2kg lwt returned $1,500/head. For the heavier lines, 330-400kg lots averaged $311 higher, with the weekly average boosted by some excellent quality offerings. 185 EU accredited Angus heifers from Tenterfield, NSW, were offered in six different lots. Ranging from 8-12-months-old and weighing between 321.4-332.9kg lwt, they returned an average $3,487/head.

PTIC cow offerings again exceeded the PTIC heifer numbers this week, with the 2,643 head offered hitting a 49% clearance rate at the immediate conclusion of the sale. At a high sale of $3,970/head, PTIC cows averaged $2,636/head this week, back $10 on the previous week. From Chinchilla, Queensland, a line of 42 Santa Gertrudis PTIC cows aged 8-10-years-old and weighing 551kg lwt returned $2,860/head. The cows were EU accredited and joined to Wagyu bulls.

The most cautious buying for the week belonged to the PTIC heifer category, with a subdued 27% clearance rate for the 2,202 head offered. With the average up $124 for the week, at $2,713, some buyers were prepared to meet vendors expectations, while attention and sales could have also been dragged away to the heavier non-joined heifer lines, given the recent price differential. From Oberon, NSW, a line of 20 Angus PTIC heifers aged 20-22-months-old and weighing 440kg lwt returned $2,800/head and were joined to Angus bulls.

From Albury, NSW, 11 Murray Grey heifers with 11 calves at foot sired by Angus bulls returned $3,360/head. The heifers aged 24-25-months-old and weighed 435kg lwt while the calves aged 4-10-weeks-old and weighed 72kg. They will travel to a buyer in Thornton, Victoria.

NOTE: Prices as at 2pm, Friday 24^th June 2022